Zevin Asset Management LLC Has $37.96 Million Holdings in MercadoLibre, Inc. $MELI

Zevin Asset Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,525 shares of the company’s stock after selling 1,788 shares during the quarter. MercadoLibre comprises about 5.5% of Zevin Asset Management LLC’s holdings, making the stock its largest position. Zevin Asset Management LLC’s holdings in MercadoLibre were worth $37,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Invesco Ltd. increased its position in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. GQG Partners LLC raised its position in MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares in the last quarter. Jennison Associates LLC raised its position in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Finally, Nuveen LLC bought a new stake in MercadoLibre during the first quarter worth about $143,367,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $2,099.55 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market capitalization of $106.44 billion, a PE ratio of 51.44, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The stock’s 50 day moving average price is $2,297.65 and its 200-day moving average price is $2,375.41. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the firm earned $7.83 EPS. The business’s revenue was up 39.5% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Wedbush increased their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Barclays upped their price objective on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Benchmark dropped their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,861.25.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.